Green blames HMRC

One year on from going into administration Charles Green has accused HMRC of misleading his consortium over the likely success of a CVA.

The Sevco owner believed that he was close to a deal with HMRC despite being unable to put a pennies in the pound deal in front of the Rangers creditors.

With more than 25% of the total debt owed to HMRC the taxman rejected the so-called CVA which promised future riches should Rangers re-appear in the Champions League.

Green famously claimed that he had been given a nod of approval from HMRC for the CVA but like the encouragement he got for newco to apply to join the SPL that wish died a death plunging the club into liquidation.

Looking back on the dramatic days of the summer when Rangers went into  liquidation Green told the club website:  ”HMRC gave a clear impression they would actively consider a CVA as an exit from administration and now say that was not a realistic option. If HMRC had said that from the off there would have been a great deal of angst avoided. “

Green added: “The football authorities got themselves tied up in knots trying to deal with the situation and left many people, not just us at Rangers, in little doubt they were making it up as they went along.

“That is why we have been so exercised about the SPL’s EBT Commission. At one stage the football authorities were perfectly prepared to deal with this issue as part of an overall package to resolve the Rangers situation and then….they didn’t For Rangers fans, those issues understandably caused resentment and left a bitter taste in the mouth.”

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